Borrow Despite Bad Credit with Bad Credit Loans

Have you defaulted on your loan payments? Faced mortgage arrears, repossession threats or bankruptcy? Your credit rating obviously stands damaged. It is a common perception that bad credit rating affects your borrowing. Yes, it does. But it does not mean that you cannot borrow at all. Bad credit loans are available for the exclusive benefit of borrowers who have been refused elsewhere. You can choose between secured bad credit loans and unsecured bad credit loans. Homeowners will qualify for secured bad credit loans and tenants or homeowners who are not willing to risk their home can benefit from unsecured bad credit loans. Interest rates on all borrowings depend on your credit rating. Generally bad credit loans come with a higher interest rate. But there are a number of online lending agencies providing low APR bad credit loans, all available with a click of your mouse!